Alternative Energy Future Looks Grim
Alternative energy companies and their shareholders are hurting, even though our government has verbalized a desire to move on our alternative options more aggressively.Some companies, e.g, Energy Conversion Devices (ENERQ), have been forced to declare bankruptcy due to the higher cost of materials like silicon and the lack of actual growth of that market. Incentives for solar energy have been lacking.
ENERQ very recently filed Chapter 11 and quite a few other alternative energy companies are finding themselves following a similar route. Government talks a good game about supporting investments in solar and other alternative energy options, but actions speak louder than words.
The previous Bush administration also stated support for alternative energy, but it too failed in honestly promoting the industries. In the addresses in both Bush election, he stated his administration's support of alternative energy, but we never saw the actions of support and incentives.
The truth is that gas and oil companies rule and unless these companies, e.g., Mobil-Exxon, BP, etc., delve into the alternative market themselves, we will not see any real growth in alternative energy markets. Wealthy lobbies and extravagant campaign contributions, gifts and perks ensure it.